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Bank Collection Manager Jobs in Chicago, IL (NOW HIRING)

Bank of America

Treasury Product Manager I

Chicago, IL · On-site

At Bank of America, we are guided by a common purpose to help make financial lives better through ... This pivotal role involves optimizing and overseeing the billing & collection of transaction fees ...

Home State Bank

VP - Commercial Banker

Crystal Lake, IL · On-site

$99K - $162K/yr

Maintain properly documented files and manage renewals and collection efforts on past dues and ... Home State Bank offers competitive pay and a generous benefit package that starts the first of the ...

Home State Bank

VP - Commercial Banker

Crystal Lake, IL · On-site

$99K - $162K/yr

Maintain properly documented files and manage renewals and collection efforts on past dues and ... Home State Bank offers competitive pay and a generous benefit package that starts the first of the ...

First Business Bank

Account Manager

Des Plaines, IL · Hybrid

First Business Bank is a Top Workplaces USA company, learn more here. At the heart of First ... collection. * Partner with clients and internal teams to resolve issues and ensure timely service.

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All JobsBank Collection JobsBank Collection Manager JobsBank Collection Manager Jobs in Chicago, IL

Bank Collection Manager information

See Chicago, IL salary details

$31.9K

$60.5K

$112.3K

How much do bank collection manager jobs pay per year?

As of Jul 26, 2026, the average yearly pay for bank collection manager in Chicago, IL is $60,492.00, according to ZipRecruiter salary data. Most workers in this role earn between $41,700.00 and $67,500.00 per year, depending on experience, location, and employer.

What does a Bank Collection Manager do?

A Bank Collection Manager is responsible for overseeing the process of recovering overdue payments on loans and credit accounts for a bank. They manage a team of collection agents, set strategies to maximize recovery, and ensure compliance with regulations and company policies. Their role includes negotiating with delinquent account holders, analyzing collection data, and implementing best practices to reduce non-performing assets. Effective communication and problem-solving skills are essential for this position.

What are the key skills and qualifications needed to thrive as a Bank Collection Manager, and why are they important?

To thrive as a Bank Collection Manager, you need expertise in credit risk assessment, debt recovery strategies, and a background in finance or banking, often supported by a bachelor’s degree. Familiarity with loan management software, CRM systems, and regulatory compliance tools is typically required. Strong negotiation, leadership, and problem-solving skills help manage teams and interact effectively with clients. These abilities are vital to maximize debt recovery, maintain regulatory compliance, and uphold customer relationships within a financial institution.

What is the difference between Bank Collection Manager vs Credit Analyst?

AspectBank Collection ManagerCredit Analyst
Primary RoleOversees collection processes for overdue accounts, manages collection teams, and minimizes bad debtAssesses creditworthiness of potential and existing clients to determine lending risk
Required CredentialsTypically requires banking or finance certifications, experience in collectionsOften requires finance, accounting, or economics degrees, and credit certifications
Work EnvironmentBanking institutions, collections departments, often in office settingsFinancial institutions, credit departments, analytical settings
Employer & Industry UsageCommonly employed by banks, financial institutions, lending companiesUsed by banks, credit agencies, and lending firms for risk assessment

The main difference is that a Bank Collection Manager focuses on recovering overdue debts and managing collections, while a Credit Analyst evaluates credit risk to support lending decisions. Both roles require financial knowledge and certifications but serve different functions within banking operations.

What are the main challenges a Bank Collection Manager faces when managing a collection team?

A Bank Collection Manager often deals with the challenge of balancing effective debt recovery with maintaining positive customer relationships. They must ensure their team adheres to regulatory guidelines and ethical practices, while also meeting recovery targets. Motivating team members in a high-pressure environment and handling complex negotiations with delinquent clients are also common hurdles. Additionally, adapting strategies based on changing economic conditions and customer profiles is key to success in this role.
What are popular job titles related to Bank Collection Manager jobs in Chicago, IL? For Bank Collection Manager jobs in Chicago, IL, the most frequently searched job titles are:
What job categories do people searching Bank Collection Manager jobs in Chicago, IL look for? The top searched job categories for Bank Collection Manager jobs in Chicago, IL are:
Bank Collection Manager jobs near you
Infographic showing various Bank Collection Manager job openings in Chicago, IL as of July 2026, with employment types broken down into 86% Full Time, 13% Part Time, and 1% Contract. Highlights an 93% Physical, 4% Hybrid, and 3% Remote job distribution, with an average salary of $60,492 per year, or $29.1 per hour.

Accounts Receivable Credit Collections - 1598281

Ursitti Enterprises LLC

Merrillville, IN

$20/hr

Full-time

Posted 19 days ago

Job description

Accounts Receivable/Credit/Collections

 

·        Manage Daily Operations of Credit Management with customers of 2 companies.

·        Manage the day-to-day operation of limiting the company’s accounts to specific credit limits.

·        Investigate and approve new accounts, including spearheading credit limit negotiations between the sales department and the credit research agency, if needed.

·        Manage document change requests such as name changes, assignments, and assumptions.

·        Review requests for an increase in credit levels.

·        Prioritize and delegate daily workload and projects while providing guidance.

·        Develop, review, implement, and maintain reporting and policies of those being managed.  


Accounts Receivable:

·        Collaborate, monitor, and confer with customers and management regarding the collection of past-due amounts.

·        Approve all adjustments and ensure past-due accounts are properly handled.

·        Collaborate with companies’ collection agents and outside legal counsel to resolve delinquent and bankrupt accounts.

·        Manage the collection and distribution of legal filings from the bankruptcy courts as needed.


Financial Management

·        Assist with organization members and relationship management of bank activities.

·        Apply cash collections for two companies.

·        Maintain daily operations of General Ledger accountant for one primary company.

·        Manage monthly closing process.

·        Complete necessary reconciliations.

·        Generate journal entries for both recurring and period-specific transactions.

·        Prepare company financial statements.

·        Prepare associated reports monthly and as needed.

·        Familiarity with the preparation of audit work papers will be helpful for this position.

·        Perform other duties as assigned.


Job Qualifications:


2-3 years of related experience

Bachelor's degree (Accounting, Business Administration, Finance) or related work history.

High level of business interaction knowledge, accounting procedures, computer skills and strong demonstrated analytical skills.

Customer communication and determined collection management experience a plus for this position.